Are you looking for ASX 200 dividend shares to add to your income portfolio in July? If you are, then you may want to look at the two named below that have been tipped as buys by analysts at Morgans.
Here's why the broker rates these dividend shares highly right now:
Santos Ltd (ASX: STO)
The first ASX 200 dividend share that could be a buy is Santos. It is of course one of the world's largest energy producers with a collection of world-class operations and projects.
The team at Morgans is positive on the company due to its growth prospects and diversified earnings base. It feels this leaves it "well placed to outperform against the backdrop of a broader sector recovery."
It also expects it to support some attractive dividend payments in the near term. The broker is forecasting dividends per share of 34 cents in FY 2023 and 46 cents in FY 2024. Based on the current Santos share price of $7.41, this will mean yields of 4.6% and 6.3%, respectively.
Morgans has an add rating and an $8.60 price target on its shares.
Wesfarmers Ltd (ASX: WES)
Another ASX 200 dividend share that has been named as a buy is Wesfarmers.
It is of course the conglomerate behind a wide range of high-quality businesses such as Bunnings, Covalent Lithium, Kmart, Officeworks, Priceline, Target, and WesCEF. It is also in the process of trying to acquire Silk Laser Australia Ltd (ASX: SLA).
Morgans believes it could be well-placed to continue its solid performance in the near term thanks to its focus on value.
Its analysts are expecting this to lead to fully franked dividends per share of $1.79 in FY 2023 and $1.92 in FY 2024. Based on the current Wesfarmers share price of $49.05, this will mean yields of 3.65% and 3.9%, respectively.
Morgans has an add rating and a $55.60 price target on Wesfarmers' shares.
